The number of taxpayers increased by 19.5 percent in one-year post-demonetisation from 3.25 crore to 3.89 crores, Parliament was told on Friday. “During the current financial year (up to November 7), 3.89 crore income-tax e-returns were filed as compared to 3.25 crore e-returns filed during corresponding period of the last financial year, which translates into …

Second day of 23rd Good and Service Tax (GST) Council meeting began in Assam’s Guwahati on Friday. The council is headed by Union Finance Minister Arun Jaitley, which has finance ministers of states as its members. Chairing 23rd meeting of the GST Council in Guwahati, November 10, 2017 pic.twitter.com/8GigvDtlaW — Arun Jaitley (@arunjaitley) November 10, 2017 …

Nature can provide cost-effective and permanent solutions to check climate change, so much so that it can reduce over a third (37%) of greenhouse gas emissions by 2030, a new study by scientists from global conservation organisation, The Nature Conservancy and 15 other institutions, has concluded. As per the study, the reduction in emissions will …

Employment creation, the global slowdown in investments and the possible impact that the US Federal Reserves move normalise monetary conditions can have on emerging economies are three major policy challenges, Finance Minister Arun Jaitley has said. “The risks posed to emerging markets and developing economies by the US Federal Reserve’s steps towards restoring normal monetary …

Calling for a 36 hour nationwide strike starting from 8 am of October 9, truck owners and operators on Saturday protested against the disruptive policies under Goods and Services Tax (GST) and demanded the inclusion of diesel in the new indirect tax’s ambit. “The post GST scenario has critically impaired the transport trade. The leadership of All India Motor Transport …

A pan-India body of commercial crop growers said on Thursday that tobacco growers in India have lost over Rs 3,000 crore in earnings since 2014 due to the central government continuously increasing taxes. According to the Federation of All India Farmers Association (FAIFA) — representing farmers from Andhra Pradesh, Telangana, Karnataka and Gujarat, among others …

Superstar Rajinikanth on Wednesday said the Tamil Nadu government's decision to levy 30 per cent entertainment tax over and above the GST rate of 28 per cent will affect the livelihood of lakhs of people in the Tamil film industry. "Keeping in mind the livelihood of lakhs of people in the Tamil film industry, I …

A special team of the Haryana Chief Minister’s Flying Squad conducted surprise raids at over 600 places across the state to check the manufacturing of spurious products, including illicit liquor, illegal plying of passenger and transport vehicles, and registered cases against those involved in such unauthorized activities. As many as 312 criminal cases have been …

Deputy Chief Minister Manish Sisodia on Friday held a Facebook Live session on GST, where taxation on goods that will remain unsold till June 30 emerged as the chief concern of the city's traders. Sisodia, who was assisted by VAT department officials, took up a series of questions that came up during the hour- long …

NITI Aayog Vice-Chairman Arvind Panagariya on Friday categorically stated that there is no question of taxing agriculture income at a time when the government is keen on doubling the income of farmers. "80 per cent of rural areas are connected to agriculture and we are talking about doubling farmers' income. How can we talk about …

Policy think-tank NITI Aayog has favoured strengthening of special courts, time-bound disposal of cases and moderate taxation to effectively deal with generation of black money and corruption. The three-year draft action agenda, released by the Aayog on Thursday, stressed on minimising discretionary powers of government officials. “Special courts set up to try corruption cases should …

US President Donald Trump will make an important announcement about his awaited plan for tax reform next Wednesday. "We'll be having a big announcement on Wednesday having to do with tax reform. The process has begun long ago but the reform will begin on Wednesday," Efe news service quoted Trump as saying. Trump signed an …

The Tobacco Institute of India has urged the government to enforce high taxation on the cigarette smuggling syndicates under the GST norms aimed at curbing the illegal industry. The TII — a representative body of manufacturers, farmers, exporters — has also said that the step will provide relief to distressed tobacco farmers, the legal cigarette industry …

The Tobacco Institute of India has urged the government to enforce high taxation on the cigarette smuggling syndicates under the GST norms aimed at curbing the illegal industry. The TII — a representative body of manufacturers, farmers, exporters — has also said that the step will provide relief to distressed tobacco farmers, the legal cigarette industry …

The political reluctance in matters of taxation and enforcement is pronounced. Governments lose several thousand crore each year owing to collusion between revenue officers and assessees. There is very limited reconciliation of revenues between revenue collection agencies, their accounts officers and receiving banks. CAG’s customs audit report for 2015-16 reports that 89 indirect tax commissionerates …

GST will not only ease the process of taxation, but bring in transparency, say experts. At an interactive awareness programme for start-ups here, the experts said the government is expected to resolve the queries of entrepreneurs regarding GST. "GST will not only ease the process, but also bring transparency as all the invoices needed to …